Australian shares have traded higher, with energy stocks surging 3.8 per cent. -AAP Image
Australian shares have recovered to their highest levels since US Liberation Day tariffs sparked a sell-off that wiped trillions from global markets.
Hold tight - we’re checking permissions before loading more content
As hints of US-China tariff negotiations buoyed investor sentiment, the S&P/ASX200 rose 108.3 points, or 1.39 per cent, to 7925, while the broader All Ordinaries gained 115.3 points, or 1.44 per cent, to 8129.
The All Ordinaries tanked more than nine per cent in the three sessions after US President Donald Trump levelled tariffs on almost every country on April 2, with almost $270 billion in value wiped from the top-500 stocks.
The move wiped more than $US5 trillion ($A7.8 trillion) from global stock markets in less than a week and prompted economists to slash global growth forecasts.
Indexes in Asia also rallied on Wednesday, with Hong Kong's Hang Seng surging 2.3 per cent, Japan's Nikkei up almost two per cent and South Korea's KOSPI composite gaining 1.5 per cent.
The Australian dollar has also recovered its post-Liberation Day dive to trade at 63.97 US cents, down slightly from Tuesday evening when it was buying 64.36 US cents.
20°C